DA Davidson Initiates Coverage on eBay Inc. (EBAY)

Analysts at DA Davidson started coverage on shares of eBay Inc. (NASDAQ:EBAY) in a note issued to investors on Wednesday. The brokerage set a “buy” rating on the e-commerce company’s stock.

A number of other analysts have also weighed in on the stock. BMO Capital Markets reiterated a “hold” rating on shares of eBay in a report on Wednesday. Canaccord Genuity reiterated a “hold” rating and set a $34.00 target price on shares of eBay in a report on Wednesday, September 6th. Robert W. Baird reiterated an “outperform” rating and set a $38.00 target price on shares of eBay in a report on Sunday, August 20th. Royal Bank Of Canada reiterated a “hold” rating on shares of eBay in a report on Friday, August 18th. Finally, SunTrust Banks, Inc. assumed coverage on shares of eBay in a report on Tuesday, August 15th. They set a “hold” rating and a $38.00 target price for the company. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.05.

Shares of eBay (NASDAQ:EBAY) traded up 0.24% on Wednesday, hitting $38.27. The stock had a trading volume of 5,621,311 shares. The firm has a market capitalization of $40.96 billion, a price-to-earnings ratio of 5.74 and a beta of 1.34. The firm has a 50 day moving average of $35.86 and a 200-day moving average of $34.69. eBay has a 1-year low of $27.28 and a 1-year high of $38.50.

eBay (NASDAQ:EBAY) last posted its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. eBay’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Equities analysts predict that eBay will post $2.00 earnings per share for the current year.

eBay declared that its board has authorized a share repurchase plan on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

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In related news, SVP Harry A. Lawton III sold 34,832 shares of eBay stock in a transaction on Monday, August 14th. The shares were sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the transaction, the senior vice president now owns 83,058 shares in the company, valued at approximately $2,907,030. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $37.51, for a total transaction of $937,750.00. Following the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,238 shares of company stock worth $3,439,297. 6.78% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in EBAY. Waldron LP purchased a new stake in eBay in the 1st quarter worth $210,000. Elkfork Partners LLC lifted its stake in eBay by 152.2% in the 1st quarter. Elkfork Partners LLC now owns 226,800 shares of the e-commerce company’s stock worth $7,614,000 after purchasing an additional 136,864 shares in the last quarter. Suntrust Banks Inc. lifted its stake in eBay by 4.5% in the 1st quarter. Suntrust Banks Inc. now owns 29,459 shares of the e-commerce company’s stock worth $987,000 after purchasing an additional 1,279 shares in the last quarter. Xact Kapitalforvaltning AB lifted its stake in eBay by 3.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 159,530 shares of the e-commerce company’s stock worth $5,355,000 after purchasing an additional 5,394 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in eBay by 21.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 2,123,907 shares of the e-commerce company’s stock worth $71,300,000 after purchasing an additional 381,943 shares in the last quarter. Institutional investors own 84.91% of the company’s stock.

About eBay

eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.